The slide in the TSX did not spur much concern among market watchers as the index entered the session up 24 percent from the multi-year low hit in early March.

“We’ve just got a little profit-taking because Canada had been on a nice run for the past few days and weeks,” said Bruce Latimer, trader at Dundee Securities. “But the earnings in the U.S. are the focus here, that’s driving New York and Canada is just following along.”

U.S. equities also dropped, pulled down by data that showed an unexpected drop in U.S. retail sales as the market awaited the onslaught of quarterly corporate earnings in the coming weeks. [ID:nN14439273]

The heavily weighted financials index offset some of the TSX’s weakness, up 0.15 percent after news that U.S. investment bank Goldman Sachs (GS.N) reported a profit that was higher than expected late on Monday. [ID:nN13387020]